Rogers is paying $4.35 billion Cdn to acquire the remaining 25 percent stake in Maple Leaf Sports & Entertainment from Kilmer Sports.
Deal structure and timeline
Rogers Communications announced the agreement to purchase Kilmer Sports’ 25 percent holding, completing its path to sole ownership of the entity that controls the Toronto Maple Leafs, Raptors and additional franchises.
The $4.35 billion Cdn payment marks the financial close of a process that began when Rogers secured majority control in 2025.
Closure is scheduled for the fourth quarter of 2026, giving Rogers an 18-month window from majority acquisition to full consolidation.
Rogers intends to finance the purchase by divesting a minority interest in its combined sports, media and entertainment portfolio within 12 months after closing.
Leadership transitions and legacy
Larry Tanenbaum, chairman of Kilmer Sports, helped found MLSE in 1998 through the merger of the Maple Leafs and Raptors operations.
Tanenbaum served as MLSE board chair for more than two decades until Rogers assumed majority ownership last year.
Edward Rogers, executive chair of Rogers, credited Tanenbaum with shaping the organization and thanked him for the partnership that spanned decades.
Tony Staffieri, president and CEO of Rogers, described the move as bringing together Canada’s leading communications firm with its premier sports and entertainment group.
Kilmer Sports continues separate ventures, including ownership of the WNBA’s Toronto Tempo and its role as the PWHL’s first Canadian outside investor.
Investment and championship focus
Staffieri noted the agreement provides greater scope to invest in teams capable of winning championships while creating distinctive fan experiences.
Full ownership removes prior joint-decision constraints that existed under the 75-25 split established after the 2025 majority purchase.
Rogers maintains NHL involvement beyond MLSE properties and has stated its ongoing commitment to competitive success across its holdings.
The timing aligns with the 2026-27 NHL and NBA seasons, allowing Rogers to implement unified strategies from the start of those campaigns.
The deal is the largest single sports-asset transaction in Canadian history measured by the $4.35 billion Cdn outlay for the final quarter stake.
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Par Mike Jonderson
Mike Jonderson is a passionate hockey analyst and expert in advanced NHL statistics. A former college player and mathematics graduate, he combines his understanding of the game with technical expertise to develop innovative predictive models and contribute to the evolution of modern hockey analytics.